This coming week will be full of events that have the ability to move the market more substantially than what we saw last week. Here is a complete list of important events.
Certainly the most important events will be FOMC rate announcement on Wednesday 10/30 at 2 PM EST. It is widely believed that the Fed will cut rate by another 0.25%. However, it is up in the air right now as to what Jerome Powell will say regarding December and future rate cuts.
Trick or treat?
May be neither. According to Goldman Sachs, the Fed is unlikely to raise rates, but they also are unlikely to continue with another rate cut in December. They may simply just take the bowl of treats away.
So from a trading standpoint, what is the best way to navigate this market? Before diving into that, let’s take a look at short-term support and resistance levels.
The rest of this article covers:
Table of support and resistance levels
Projections based on market internals
Planning your trades
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